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FinDev Canada
FinDev Canada was created in 2018 as a wholly-owned subsidiary of Export Development Canada (EDC), the country's export credit agency. The institution provides...
FinDev Canada
FinDev Canada was created in 2018 as a wholly-owned subsidiary of Export Development Canada (EDC), the country's export credit agency. The institution provides medium-to-long-term debt and equity to private-sector businesses in Latin America, Sub-Saharan Africa, and the Indo-Pacific region. It operates under a dual mandate: generating developmental impact while earning a commercial return. The institution targets three themes: climate action, gender equality, and market development. Its financial products span direct equity investments, mezzanine financing, and senior loans, typically ranging from $5 million to $25 million per transaction. Confirmed portfolio exposures include Miro Forestry in Ghana and Sierra Leone, JCM Power's renewable energy projects across emerging markets, and agricultural value-chain investments. FinDev Canada co-founded the GAIA blended finance platform alongside MUFG Bank and the Green Climate Fund to mobilize private capital at scale. FinDev Canada maintains a lean team based in Montreal and draws on EDC's global infrastructure for origination and due diligence. It is a founding member of the 2X Challenge, a multilateral initiative that has catalyzed over $30 billion in gender-lens investments (per 2X Global, 2023). The institution is also a signatory to the Global Impact Investing Network's Operating Principles for Impact Management and participates in the International Development Finance Club alongside peer institutions like FMO and DEG. What distinguishes FinDev Canada from a conventional impact fund is its government parentage: it accesses sovereign risk tolerance and long-dated capital, yet transacts alongside commercial co-investors rather than displacing them. That hybrid posture lets it anchor rounds in markets where purely commercial capital hesitates, serving as a market-shaping actor rather than just a participant.
General information
Firm type
Government / Public Body
Year founded
2018
Location
Region
North America
Country
Canada
City
Montreal
Corporate office
Montreal, Quebec, Canada
Principals
Lori Kerr
Chief Executive Officer
Sector focus
Frequently asked questions
Who runs investment decisions at FinDev Canada?
Lori Kerr has served as CEO since the institution's launch in 2018 (per public record). She oversees a team in Montreal that evaluates equity and debt opportunities across Africa, Latin America, and the Indo-Pacific. The board of directors and EDC's leadership also play a governance role, but day-to-day investment approvals rest with Kerr and her investment committee.
How is FinDev Canada funded and governed?
FinDev Canada is capitalized by the Government of Canada and operates as a wholly-owned subsidiary of Export Development Canada (EDC). It does not raise third-party funds. Its governance structure includes a standalone board of directors, though EDC provides back-office support and international infrastructure for deal origination.
Does FinDev Canada invest only in Canadian companies?
No. FinDev Canada invests directly in private-sector businesses headquartered in the emerging markets it targets — primarily Latin America, Sub-Saharan Africa, and the Indo-Pacific. Canadian companies with significant operations in those regions may qualify, but the mandate is geographic, not nationality-based.
What investment stages and instruments does FinDev Canada use?
FinDev Canada provides growth-stage capital through direct equity, mezzanine debt, and senior secured loans. Typical commitment sizes range from $5 million to $25 million. The institution generally avoids seed-stage and venture-style risk, preferring commercially viable companies with established revenue and a demonstrated development impact thesis.
What is FinDev Canada's posture on co-investment?
Co-investment is central to the strategy. FinDev Canada frequently syndicates with other development finance institutions — such as FMO, DEG, and the Green Climate Fund — and participates in blended finance structures like the GAIA platform, which it co-founded with MUFG Bank. The expectation is that each transaction will eventually crowd in private-sector capital.
How does FinDev Canada measure and report impact?
As a signatory to the GIIN's Operating Principles for Impact Management, FinDev Canada publishes annual impact reports with portfolio-level metrics. Its stated impact themes — climate action, gender equality, and market development — are tracked across each investment. The institution was a founding member of the 2X Challenge, embedding gender-lens criteria into its underwriting from inception.
Does FinDev Canada maintain a philanthropic or grant-making arm?
Yes. The FinDev Canada Technical Assistance Facility provides grant funding for capacity-building projects tied to the institution's investment portfolio. This facility helps portfolio companies improve environmental, social, and governance standards, and is used to de-risk technical aspects of blended finance structures without diluting the parent institution's commercial discipline.
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